Oct 18, 2010

Roubini Says German Austerity Will Be Fatal for Eurozone

New York University Professor Nouriel Roubini said Germany’s austerity measures, introduced to fight the aftermath of the financial crisis, are “fatal” for Europe’s largest economy, Capital magazine reported, citing an interview.

Chancellor Angela Merkel should take advantage of Germany’s ability to borrow money cheaply and “should only start to consolidate when the rest of Europe is in better shape,” Roubini is cited as saying.

in Bloomberg.com